This excerpt taken from the EQR 10-Q filed May 9, 2007.
Minority Interests as of March 31, 2007 decreased by $26.1 million when compared to December 31, 2006. The primary factors that impacted this account in the Companys consolidated statements of operations and balance sheets during the quarter ended March 31, 2007 were:
· Distributions declared to Minority Interests, which amounted to $8.9 million (excluding Junior Preference Unit and Preference Interest distributions);
· The allocation of income from operations to holders of OP Units in the amount of $7.9 million; and
· The conversion of 0.6 million OP Units into Common Shares.